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Earnings Per Share
6 Months Ended
Jun. 30, 2011
Earnings Per Share  
Earnings Per Share
(6)   Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards. There are no differences in the numerators of our computations of basic and diluted earnings per share for any period presented. The computation of basic and diluted earnings per share is shown below (in thousands, except per share amounts).

 

     Three Months Ended      Six Months Ended  
     June 30,      June 30,  
     2011      2010      2011      2010  

Net income

   $ 27,518       $ 20,930       $ 43,811       $ 31,766   
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted-average common shares outstanding

     72,794         72,280         72,749         72,141   

Dilutive effect of stock-based awards

     445         487         441         517   
  

 

 

    

 

 

    

 

 

    

 

 

 

Shares used in computing diluted earnings per share

     73,239         72,767         73,190         72,658   
  

 

 

    

 

 

    

 

 

    

 

 

 

Basic earnings per share

   $ 0.38       $ 0.29       $ 0.60       $ 0.44   
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted earnings per share

   $ 0.38       $ 0.29       $ 0.60       $ 0.44   
  

 

 

    

 

 

    

 

 

    

 

 

 

There were no options to purchase shares of common stock that were outstanding during the periods indicated above that were excluded from the computation of diluted earnings per share because the option purchase price was greater than the average market price of the common shares during the period.